French check processing fee controversy of 2010
In 2010 the French government's Autorité de la concurrence (the department in charge of regulating competition) fined eleven banks €384,900,000 for colluding to charge unjustified fees for check processing, especially for extra fees charged during the transition from paper check transfer to "Exchanges Check-Image" electronic transfer. [1][2]
The banks were as follows:
- Banque de France[1]
- BPCE[1]
- Banque postale[1]
- BNP Paribas[1]
- Confédération Nationale du Crédit Mutuel[1]
- Crédit Agricole[1]
- Crédit du Nord[1]
- Crédit Industriel et Commercial (CIC)[1]
- LCL[1]
- HSBC[1]
- Société Générale[1]
See also
Notes
- 1 2 3 4 5 6 7 8 9 10 11 12 Collusion in the banking sector, Press Release of Autorité de la concurrence, République Française, 20 September 2010, retrv 2010 9 20
- ↑ 3rd UPDATE: French Watchdog Fines 11 Banks For Fee Cartel , Elena Bertson, Dow Jones News Wires / Wall Street Journal online, retr 2010 9 20
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